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FIRST Global
Savings Account

Apply now
Apply now

Overview

The FIRST Global Savings Account is a specialised non-resident account that can be opened at the International Financial Services Centre (IFSC), GIFT City, Gujarat. Designed exclusively for our NRI customers, this account offers attractive interest rates, seamless digital access, and regulatory benefits of GIFT City.

Key Features of the Global
Savings Account

The FIRST Global Savings Account is packed with several attractive features, making it a convenient and rewarding banking solution for NRIs:

Attractive Interest Rate

Attractive Interest Rate

Earn Attractive/Competitive interest rates on your savings deposit, credited every month for enhanced financial growth.

Freely Repatriable

Freely Repatriable

Enjoy unrestricted repatriation of funds to your country of residence whenever required.

Multicurrency Support

Multicurrency Support

Maintain your funds in major foreign currencies like USD and EUR, eliminating the need for conversions.

Zero Fee Banking

Zero Fee Banking

Enjoy zero-fee banking on FIRST Global Savings Account and save more on banking services.

Tax Advantages

Tax Advantages

Interest earned is tax-exempt under current Indian tax laws for GIFT City savings accounts.

Dedicated Relationship Manager

Dedicated Relationship Manager

Your existing relationship manager continues being mapped to your GIFT City accounts also.

Bank From Anywhere

Bank From Anywhere

Single Mobile App to manage your entire banking

Interest Rates

The FIRST Global Savings Account offers a highly competitive interest rate along with transparent fee structures to suit your global banking needs.

Particulars Details
Interest Rate: USD 4.75% per annum
Interest Rate: EUR 1.50% per annum
Average Monthly Balance Requirement Zero
Fund Transfer Charges (International) Zero
Account Maintenance Charges Zero

Note: All rates and charges are subject to change as per the Bank’s discretion and applicable regulations.
Please click to view FIRST Global Saving Account interest rates

Who can open an account in GIFT City?

The FIRST Global Savings Account is exclusively available to eligible non-residents who wish to leverage GIFT City's internationally aligned banking ecosystem.

Global savings account

Global savings account are available to existing NRI customers of IDFC FIRST Bank.

Global Savings account

How to open a Global Savings account?

If you’re an existing NRI customer, please get in touch with your relationship manager.

Contact your RM
Documents

Documents Required to Open a Global Savings Account

For existing customers only an application form will be required.

What currencies can I hold in this account?

You can hold deposits in major foreign currencies in your FIRST Global Savings Account. The supported currencies currently include:

US Dollar (USD)

US Dollar (USD)

Euro (EUR)

Euro (EUR)

These options enable you to manage your global income without worrying about exchange rate conversions.

Frequently asked questions

Is the interest earned on the FIRST Global Savings Account taxable in India?

No, the interest earned on the FIRST Global Savings Account is currently not taxable in India, as per the prevailing regulations applicable. However, taxation may apply in your country of residence, and it is advisable to consult a tax advisor for jurisdiction-specific implications.

Are there any minimum balance requirements for the Global Savings Account?

No minimum balance is required in your FIRST Global Savings Account. This threshold ensures eligibility for the account’s premium features and benefits.

Can I transfer funds from my NRE/NRO account to the FIRST Global Savings Account and vice versa?

Yes, funds can be transferred between your NRE/NRO accounts and your FIRST Global Savings Account. However, such transfers must comply with RBI and IFSC guidelines, and applicable documentation or approvals may be required depending on the currency and purpose of remittance.

How can I add a nominee to the GIFT City deposit?

More FAQs